21 April 2015
Sir/Madam, Please help me to know the basic difference between Schedule VI and III. Some people says that its nothing but same as Schedule VI. But i found some diff. Also tell me that if Schedule III is similar to Schedule VI then why Schedule III is introduced. They could amend the old one.
21 April 2015
Schedule III of the Companies Act, 2013 contains a format for preparation and presentation of financial statements. . Except for addition of general instructions for preparation of Consolidated Financial Statements (CFS), the format of financial statements given in the Companies Act, 2013 is the same as the revised Schedule VI notified under the Companies Act, 1956.
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